Missouri regulators vote to close President Casino
February 1, 2010
ST. LOUIS - Missouri gambling regulators voted 4-0 last week to revoke the
license of the aging river boat casino, which they feel has intentionally slowed
its gambling operation with a resulting drop in state revenue. The casino is
scheduled to close by July 1, but the owners can request a hearing to appeal the
"There is a pattern of deliberately putting the President Casino in decline,"
said Commission Chairman James Mathewson.
The Commission found the casino has removed slot machines, game tables, food
services and staff which have resulted in a 48 percent decline in revenues since
2006 when Pinnacle bought the casino.
"That casino can generate more and should generate more," said Commission
Executive Director Gene McNary.
A spokesperson for Pinnacle Entertainment Inc., Pauline Yoshihashi, told the
Associated Press, "We are shocked and completely dismayed by the commission's
actions. We've put forth viable plans to either repair or replace the vessel,
we've dealt with them in good faith."
Yoshihashi said Pinnacle has paid millions in state and local tax revenues and
has created thousands of jobs. She said the casino's decline is due to the
St. Louis City Mayor Francis Slay has sent a letter to the gaming commission
requesting they reconsider their decision and allow the casino to stay open.
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